Phillips Theological Seminary 
The information on this page was last updated 5/22/2026. If you see errors or omissions, please email: [email protected]
Summary
Phillips Theological Seminary is a graduate seminary, affiliated with the Christian Church (Disciples of Christ).
Contact information
Mailing address:
Phillips Theological Seminary
901 N. Mingo Road
Tulsa, OK 74116
Website: ptstulsa.edu
Phone: 918-610-8303
Organization details
EIN: 731303821
CEO/President: F. Douglas Powe Jr.
Chairman: Claire Meredith
Board size: 16
Founder:
Ruling year: 1988
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Our primary purpose is to serve the church's need for educated leaders - ordained and lay.
Mission statement
The seminary's mission is to learn and teach how to be: attentive to God; responsible biblical and theological interpreters; faithful individuals, congregations, and communities acting with God to transform the world.
Statement of faith
Donor confidence score
Show donor confidence score details
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Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 1422 of 1435 | 154 of 155 |
| Fund acquisition rating | | 1408 of 1435 | 150 of 155 |
| Resource allocation rating | | 1329 of 1435 | 142 of 155 |
| Asset utilization rating | | 1253 of 1436 | 146 of 155 |
To understand our financial efficiency ratings, click here.
Financial ratios
| Funding ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 57% | 32% | 38% | 12% | 12% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 8% | 9% | 9% | 5% | 6% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 15% | 15% | 27% | 24% | 45% | 49% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 10% | 9% | 9% | 8% | 8% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 85% | 85% | 73% | 76% | 55% | 51% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 66% | 70% | 67% | 72% | 76% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 80% | 97% | 103% | 64% | 76% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 53% | 68% | 68% | 46% | 58% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 20% | 3% | -3% | 36% | 24% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | 1% | 0% | 0% | 3% | 2% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 24% | 21% | 25% | 20% | 17% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.52 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.73 | 2.76 | 2.72 | 2.74 | 2.65 | 2.24 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.45 | 0.12 | 0.13 | 0.14 | 0.13 | 0.12 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.18 | 32.79 | 40.65 | 67.98 | 211.50 | 168.10 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.03 | 0.02 | 0.01 | 0.00 | 0.01 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.99 | 96.06 | 91.78 | 83.37 | 89.18 | 101.81 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 20% | 5% | 1% | 1% | 0% | 0% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 4% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 2173% | 2111% | 1919% | 1974% | 1904% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Cash | $5,500,105 | $6,315,700 | $4,050,752 | $1,665,183 | $2,948,243 |
| Receivables, inventories, prepaids | $10,136,386 | $9,708,243 | $10,117,071 | $9,974,670 | $11,530,579 |
| Short-term investments | $59,526,989 | $48,127,233 | $43,126,667 | $41,483,471 | $48,101,061 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $75,163,480 | $64,151,176 | $57,294,490 | $53,123,324 | $62,579,883 |
| Long-term investments | $114,031,495 | $97,546,075 | $87,491,255 | $75,489,215 | $64,958,646 |
| Fixed assets | $16,556,195 | $8,306,993 | $7,895,936 | $8,190,969 | $7,760,744 |
| Other long-term assets | $2,012,279 | $4,298,012 | $4,063,912 | $3,852,271 | $4,666,574 |
| Total long-term assets | $132,599,969 | $110,151,080 | $99,451,103 | $87,532,455 | $77,385,964 |
| Total assets | $207,763,449 | $174,302,256 | $156,745,593 | $140,655,779 | $139,965,847 |
| Liabilities | 2025 | 2024 | 2023 | 2022 | 2021 |
| Payables and accrued expenses | $2,292,327 | $1,578,173 | $842,844 | $251,177 | $372,267 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $2,292,327 | $1,578,173 | $842,844 | $251,177 | $372,267 |
| Debt | $7,646,161 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $6,121 |
| Total long-term liabilities | $7,646,161 | $0 | $0 | $0 | $6,121 |
| Total liabilities | $9,938,488 | $1,578,173 | $842,844 | $251,177 | $378,388 |
| Net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Without donor restrictions | $25,010,078 | $19,923,724 | $18,261,037 | $18,506,858 | $18,766,204 |
| With donor restrictions | $172,814,883 | $152,800,359 | $137,641,712 | $121,897,744 | $120,821,255 |
| Net assets | $197,824,961 | $172,724,083 | $155,902,749 | $140,404,602 | $139,587,459 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2022 | 2021 |
| Total contributions | $1,646,391 | $2,297,837 | $1,908,810 | $4,941,184 | $4,747,266 |
| Program service revenue | $572,517 | $570,238 | $696,786 | $796,697 | $976,948 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $9,070,773 | $5,343,523 | $5,287,457 | $5,228,993 | $3,545,728 |
| Other revenue | $43,055 | $197,108 | $33,610 | $86,191 | $341,562 |
| Total other revenue | $9,686,345 | $6,110,869 | $6,017,853 | $6,111,881 | $4,864,238 |
| Total revenue | $11,332,736 | $8,408,706 | $7,926,663 | $11,053,065 | $9,611,504 |
| Expenses | 2025 | 2024 | 2023 | 2022 | 2021 |
| Program services | $6,001,274 | $5,705,731 | $5,415,268 | $5,096,413 | $5,536,025 |
| Management and general | $2,168,139 | $1,741,468 | $1,993,772 | $1,433,982 | $1,239,781 |
| Fundraising | $933,859 | $733,818 | $716,673 | $583,727 | $556,486 |
| Total expenses | $9,103,272 | $8,181,017 | $8,125,713 | $7,114,122 | $7,332,292 |
| Change in net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Surplus (deficit) | $2,229,464 | $227,689 | ($199,050) | $3,938,943 | $2,279,212 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $2,229,464 | $227,689 | ($199,050) | $3,938,943 | $2,279,212 |
Compensation
| Name | Title | Compensation |
| Lisa Davison | VP of Academic Affairs | $190,846 |
| Nancy Claire Pittman | Former President | $182,948 |
| Karen McMillan | CFO/VP of Finance | $172,436 |
| Warren Carter | Professor-Nt | $145,121 |
| Joseph Bessler | Professor-Theology | $141,626 |
| Ashley Gibson | Secretary | $91,504 |
Compensation data as of: 6/30/2025
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/22/2026. To update the information below, please email: [email protected]
History
https://ptstulsa.edu/about-us/our-history/